Misrepresentation given by some BN-controlled newspapers(e/c)

Press Statement By Penang Chief Minister Lim Guan Eng In Komtar, George Town On 16.12.2016.

I wish to correct the misrepresentation given by some BN-controlled newspapers that Penang Development Corporation earned RM 1.7 billion from selling land since 2008. This is untrue. From 2008-2015, PDC sold RM 1.94 billion worth of land for industrial and mixed development purposes. PDC recorded a net profit of RM 147 million from the land sales of RM 1.94 billion.

The cost involved of RM1.8 billion relates to land acquisition, development costs over the land in providing infrastructure and holding costs. PDC will continue to use the RM 147 million profits for economic development to make Penang as a location of choice for investors, a destination of choice for tourists and a habitat of choice for a livable city. PDC has to also lead the charge to make Penang to participate actively in the 4th Industrial Revolution of Big Data Analytics, cloud computing, Internet of Things and e-commerce.

PDC’s profits would have been higher if PDC is allowed to sell the land at a higher price. However PDC cannot do so because it has to perform its statutory duty of bringing in new factories to generate job and business opportunities for Penang as well as attract retail outlets like IKEA and premium retail outlets, universities and hospitals to grow the services sector and tourism.


—-Mandarin —



售地成本涉及18亿令吉的土地收购、发展基建及储备成本。槟州发展机构将继续使用上述1亿4700万令吉的利润于经济发展,让槟城继续成为投资者、游客及宜居城市选择的首选地。槟州发展机构也必须领头,让槟城更活跃地参与大数据分析(Big Data Analytic)、云端电脑(CLoud Computing)、物联网(IoT)及电子商务(e-commerce)的第四波工业革命。